Market Overview

UPDATE: Goldman Sachs Upgrades Autodesk to CL-Buy on Macro Turnaround

Share:
Related ADSK
Mid-Morning Market Update: Markets Edge Lower; Big Lots Earnings Top Views
Morning Market Losers
Autodesk Shift To Cloud Still Sticky, Guidance Lags (Investor's Business Daily)

Goldman Sachs upgraded Autodesk (NASDAQ: ADSK) from Sell to Conviction Buy and raised the price target from $25.00 to $45.00.

Goldman Sachs commented, "We think improved execution coupled with an inflecting nonresidential construction end-market can drive the shares higher. In ADSK's FY14 we see a tailwind from an accelerating US non-residential construction cycle, highlighted by the GS Industrials team, and a recovery in the China construction market. … We see the potential for Suite revenue to reaccelerate in FY14 with better adoption due to improved end market/macro trends. Also, we think ADSK has largely worked through execution issues that weighed on F2Q/ F3Q13 results."

Autodesk closed at $37.60 on Thursday.

Latest Ratings for ADSK

DateFirmActionFromTo
Aug 2015WedbushMaintainsNeutral
Aug 2015UBSMaintainsBuy
Aug 2015BarclaysMaintainsOverweight

View More Analyst Ratings for ADSK
View the Latest Analyst Ratings

Posted-In: Goldman SachsAnalyst Color Upgrades Pre-Market Outlook Analyst Ratings

 

Related Articles (ADSK)

View Comments and Join the Discussion!

Get Benzinga's Newsletters